North Ground Capital Purchases Shares of 93,469 Ares Commercial Real Estate Corporation $ACRE

Key Points

• North Ground Capital has acquired 93,469 shares of Ares Commercial Real Estate Corporation valued at around $433,000, increasing its stake to 0.17% by the end of the most recent quarter.
• Several hedge funds have also made recent acquisitions in Ares Commercial Real Estate, contributing to institutional investors holding 41.34% of the company's stock.
• Ares Commercial Real Estate announced a quarterly dividend of $0.15 per share, translating to an annual yield of 13.2%, despite having a negative payout ratio.

North Ground Capital purchased a new stake in shares of Ares Commercial Real Estate Corporation (NYSE:ACRE - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 93,469 shares of the real estate investment trust's stock, valued at approximately $433,000. North Ground Capital owned about 0.17% of Ares Commercial Real Estate at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Jane Street Group LLC grew its holdings in Ares Commercial Real Estate by 267.2% during the 4th quarter. Jane Street Group LLC now owns 263,571 shares of the real estate investment trust's stock valued at $1,552,000 after purchasing an additional 191,799 shares during the last quarter. Millennium Management LLC grew its holdings in Ares Commercial Real Estate by 505.7% during the 4th quarter. Millennium Management LLC now owns 316,969 shares of the real estate investment trust's stock valued at $1,867,000 after purchasing an additional 264,641 shares during the last quarter. Deutsche Bank AG grew its holdings in Ares Commercial Real Estate by 82.9% during the 4th quarter. Deutsche Bank AG now owns 65,072 shares of the real estate investment trust's stock valued at $383,000 after purchasing an additional 29,498 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Ares Commercial Real Estate by 2.7% during the 1st quarter. Victory Capital Management Inc. now owns 124,250 shares of the real estate investment trust's stock valued at $575,000 after purchasing an additional 3,250 shares during the last quarter. Finally, Delphi Financial Group Inc. purchased a new stake in Ares Commercial Real Estate in the 1st quarter valued at about $995,000. 41.34% of the stock is currently owned by institutional investors.

Ares Commercial Real Estate Stock Performance

NYSE:ACRE traded up $0.06 during midday trading on Friday, reaching $4.73. 347,002 shares of the stock traded hands, compared to its average volume of 493,037. Ares Commercial Real Estate Corporation has a 12-month low of $3.35 and a 12-month high of $7.83. The business has a 50-day moving average of $4.61 and a two-hundred day moving average of $4.56. The stock has a market capitalization of $259.92 million, a PE ratio of -13.90 and a beta of 1.33.

Ares Commercial Real Estate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.60 dividend on an annualized basis and a yield of 12.7%. Ares Commercial Real Estate's dividend payout ratio is presently -176.47%.

Analysts Set New Price Targets

Several research firms have issued reports on ACRE. Wall Street Zen cut shares of Ares Commercial Real Estate from a "hold" rating to a "strong sell" rating in a research report on Saturday, August 9th. Zacks Research raised shares of Ares Commercial Real Estate to a "hold" rating in a research report on Monday, August 11th. UBS Group lowered their price target on shares of Ares Commercial Real Estate from $5.00 to $4.50 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Ares Commercial Real Estate from $4.80 to $4.25 and set a "market perform" rating for the company in a research report on Wednesday, August 6th. Five analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average price target of $5.31.

Ares Commercial Real Estate Company Profile

Ares Commercial Real Estate Corporation, a specialty finance company, originates and invests in commercial real estate (CRE) loans and related investments in the United States. It provides a range of financing solutions for the owners, operators, and sponsors of CRE properties. The company originates senior mortgage loans, subordinate debt and preferred equity products, mezzanine loans, and other CRE investments, including commercial mortgage-backed securities.